Sequoia discloses China, India fundraising activity

The venture capital firm announced a final close of $530 million for Sequoia Capital India IV in May 2014.  A June 1 filing indicates the corpus has increased to $694.8 million, although The Times of India reports that the total is now around $850 million following an earlier – but undisclosed – increase in 2015. Fund V closed in February 2016 at $920 million, including a GP commitment of $45 million.

According to a separate filing, Sequoia China Growth Fund IV has raised $899.5 million from 110 LPs. This is consistent with a target of $850-900 million set last year. At the same time, the firm was also seeking $500-550 million for Sequoia China Venture Fund VI. AVCJ understands that both vehicles completed fundraising last year, with final closes originally scheduled for April.

Sequoia has pursued venture and growth strategies in China - each of which has a dedicated team - for some years. Its first VC fund closed at $200 million in 2005 and was followed by a debut growth vehicle of $500 million in 2006. Sequoia's previous venture fund closed in 2014 at $450 million, and a growth fund of $625 million was raised in 2015. The GP also manages renminbi-denominated vehicles.

It is not unusual for there to be a lag period in between Sequoia closing a fund and making a filing with the US Securities & Exchange Commission: the most recent filing for Sequoia Capital India V is a registration document from November 2015.

In addition to the India and China disclosures, Sequoia has raised $1.99 billion for its latest global growth fund.

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• Topics
• Fundraising
• South Asia
• Greater China
• Venture
• Technology
• Growth
• Sequoia Capital
• China
• India
• TMT
• Venture